Economics & Management Information

Macroeconomic Regulation: A Third Way beyond Keynesianism and Monetarism

Liankui Gao, Mengxuan Gan — Wed, 16 Apr 2025 00:00:00 +0800

In addressing economic downturns, there are two primary approaches in Western macroeconomics: central bank money issuance and government debt issuance. The former is known as monetarism, and the latter is called Keynesianism. In fact, there is a “third path” apart from these two methods, which is to “stimulate the credit-creation ability of commercial banks”. This is a new solution proposed in this paper. “Expanding the credit creation of commercial banks” can also generate a large amount of money for investment without incurring any costs and without leaving any sequelae of economic stimulus.

A Optimizing China's Fertility Policies: Strategies Informed by International Practices

Hui Cheng — Sun, 20 Apr 2025 00:00:00 +0800

This paper mainly discusses how to solve the problem of declining fertility rate in China. On the basis of combing through the current fertility situation in China, it is found that there are problems such as insufficient fertility subsidies, inconsistent standards, employment discrimination for women of childbearing age, backward marriage and childbearing culture in some areas, and imperfect child care system. Some countermeasures were put forward, such as increasing fertility subsidies, unifying subsidy standards, formulating policies to eliminate discrimination against women in employment, building a civilized marriage and childbearing culture, and further improving the child-care system. It is hoped that the financial support and policy incentives provided by the state can reduce the burden of child-rearing.

Multi-Perspective Research on the Mechanism of Venture Capital in Driving Innovation Development

Zijing Wu — Sun, 27 Apr 2025 00:00:00 +0800

This study empirically examines the impact and mechanisms of venture capital on innovation-driven development using a Panel Vector Autoregressive (PVAR) model with three proxy variables: total factor productivity (TFP), industrial upgrading, and technological progress. The findings demonstrate that venture capital significantly promotes innovation-driven economic development overall. Specifically, while the scale of venture capital investment shows a significant positive correlation with industrial upgrading, it fails to significantly enhance either TFP growth or technological advancement. In contrast, increasing the proportion of venture capital in aggregate social financing significantly drives technological progress. These results suggest that to fully realize high-quality, innovation-driven development through venture capital, policymakers must simultaneously expand the scale of venture capital investment and restructure regional financing systems by increasing the share of direct financing. Based on these conclusions, the study proposes policy recommendations including reforming the social financing structure, improving the multi-tier capital market system, and optimizing exit mechanisms for venture capital funds.

Research on Carbon Tariff Rate Forecasting Based on EU Carbon Border Adjustment Mechanism

JiaJia Zi — Mon, 14 Apr 2025 00:00:00 +0800

The current international trade rules are facing profound changes, green trade barriers represented by carbon tariffs and their impact have become an important issue in the evolution of global trade. Some countries are reshaping international trade rules with green standards. These measures put pressure on high-carbon emitting industries in developing countries and have an impact on their trade competitiveness. Based on this background, this paper studies the future carbon tariff level and discusses the impact of international trade and industrial competition pattern. The GTAP-E model was used to simulate the implementation of carbon tariffs in different scenarios to study the impact of carbon tariffs on trade in various industries and some countries and economic organizations. The study found that high-carbon industries will face a greater impact, while low-carbon industries will be relatively less affected. Therefore, developing countries should actively participate in the formulation of global green trade rules and build their own discourse system. Optimize the industrial structure, promote the transformation of high-carbon industries to low-carbon, and enhance the innovation capacity of green technology; Improve the carbon accounting system and carbon trading market, better adapt to the international green trade environment, and jointly write a new chapter of green trade rules.